In an interview with Politico, the Governor of the Bank of Greece, Giannis Stournaras, speaks for allies in the fight against inflation. Mr. Stournaras emphasized, among other things, that if we leave the ECB alone in the fight against inflation, there is a risk that “interest rates will shoot up to very high levels”.
If there are any more excessively large increases in interest rates from European Central Bankthere is a risk that they will cause undue damage to Europe’s economy, the governor of the Bank of Greece said in an interview with Politico Giannis Stournarasarguing that rate hikes should be made at a slower pace.
The Governor of the Bank of Greece, one of the dovish pioneers on the ECB Governing Council, also urged the fiscal and energy authorities to do more to tame inflation. As he pointed out, if we leave the ECB alone alone in the fight against inflation, there is a risk that “interest rates will soar to very high levels” and “the cost in terms of output will be much higher”.
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